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By Sheila Dang (Reuters) - Overspending on Twitter Inc for $44 billion was the easy part. Now, Tesla Inc Chief Executive Elon Musk must prove why he believes that Twitter is worth 10 times that ...
The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in ...
The social media platform formerly known as Twitter is worth almost 80% less than two years ago when Elon Musk ... The new valuation from Fidelity implies that it believes X is now worth just $9.4 ...
Twitter CEO Elon Musk reportedly told employees in an email on Friday that the company is now valued at $20 billion, less than half of the $44 billion he paid to purchase the company last year.
The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
According to the most recent available numbers, which we’ll get to in a bit, Musk and his co-investors have lost more than $25 billion on their Twitter takeover. That’s right. More than ...
On April 25, 2022, Twitter agreed to a $44 billion buyout by Elon Musk, CEO of SpaceX and Tesla, one of the biggest deals to turn a company private. [11] [12] On July 8, Musk terminated the deal. [13] Twitter's shares fell, [14] leading company officials to sue Musk in Delaware's Court of Chancery on July 12. [15]
Elon Musk completed his acquisition of Twitter in October 2022; Musk acted as CEO of Twitter until June 2023 when he was succeeded by Linda Yaccarino.In a move that, despite Yaccarino's accession, was widely attributed to Musk, [1] [2] Twitter was rebranded to X on July 23, 2023, [3] and its domain name changed from twitter.com to x.com on May 17, 2024.